Loans without Credit Bureau are promised on the Internet and also in many newspapers and magazines. However, if you then take a closer look, many offers give the feeling that the advertising is just a big deal with the hope of the loan seeker. Because many of the offers are dubious and ultimately do not lead to the desired and probably urgently needed loan.
We have therefore put together all the points of contact where you can really find loans without Credit Bureau. In addition, we would like to explain the relationships between Credit Bureau and lending and show what should be considered when taking out a loan that does not require Credit Bureau to ask.
No loan without collateral
In fact, every consumer should be aware that you need a debt counselor rather than a bank if the latter does not agree to lending. Because a rejection of a loan application always means that the prospect is not creditworthy. So that his requirements for borrowing are too weak.
In most cases, it is the Credit Bureau that prevents borrowing. If this has saved negative entries, no credit is generally possible at German banks. Because negative entries always indicate open liabilities that the borrower cannot pay. So why should the bank lend money in such circumstances that it is unlikely to get back?
In Germany, it is important that a loan can only be obtained if the borrower provides sufficient security. In addition to a good income, this is also a good Credit Bureau, which must be shown. If the borrower does not have this good Credit Bureau, he will only get a loan from a German bank if he has a second borrower at his side. If he can show a good Credit Bureau, borrowing is quite possible. Loans without Credit Bureau would then no longer be necessary.
The foreign loan
Loans without Credit Bureau can only be taken out in Germany to a limited extent and under difficult conditions. But if you go abroad as a loan seeker, the whole thing looks completely different again. Foreign banks do not have access to the data of the German Credit Bureau, so they base their loan contracts on other collateral.
As an example of good loans without Credit Bureau, we would like to name the Sigma credit bank from Liechtenstein. The bank specialized in the granting of foreign loans years ago. And in a very serious way. Because the loan offer that exists there is not extensive and promises things that can not be kept. Rather, it is very compact and tailored to customers so that the bank and customer benefit from it.
For example, Best Bank only offers two fixed loan offers that cannot be changed. Once the loan with 3,500 USD and once the loan with 5,000 USD. More is not possible and the bank does not allow two loans to be taken out if more money is needed.
Both loan options are accompanied by an effective interest rate that is just over 11 percent. The interest rate is fixed and is not based on creditworthiness. The loan is repaid in 40 monthly installments. The loan can be applied for directly on the Internet. The bank has all the necessary documents on its website. An intermediary is therefore not required.
The money is only transferred to a reference account and is not transferable to another person. The borrower can be the one who has a fixed income from a permanent job. The income must be above the garnishment allowance.
Do not use dubious offers
If the need is particularly great, then you are also happy to be blinded by dubious offers. Then the mind turns stubborn and the urge to solve the problem takes over.
The dubious credit brokers are only waiting for moments like this, letting highly indebted people believe that they can get loans without Credit Bureau. In order for this to succeed, the prospective customer should always first pay senseless fees, take out useless insurance or agree to fixed savings contracts from which there is no way out. With all of these things, the intermediaries earn an average of 380 USD per damaged consumer, without which even a credit contract has been concluded. As a rule, this does not exist because the intermediary has earned his money and is therefore no longer interested in getting the borrower a suitable loan.
As a victim, however, one should not simply accept these machinations, but resist them. And with legal means. Even if the contracts have already been signed, there are always ways to get out of them.